Friday, April 27, 2007

Business

In economic business is the social science of managing people to systematize and maintain collective productivity toward accomplishing particular imaginative and productive goals, usually to make profit. The etymology of "business" refers to the state of being busy, in the circumstance of the individual as well as the community or society. In other words, to be busy is to be doing commercially viable and profitable work.

The term "business" has at least three usages, depending on the scope — the general usage (above), the particular usage to refer to a particular company or corporation, and the comprehensive usage to refer to a particular market sector, such as "the record business," "the computer business," or "the business community" -- the community of suppliers of goods and services.

The singular "business" can be a legally-recognized entity within an economically free society, wherein individuals systematize based on expertise and skill bring about social and technological expansion.

However, the exact definition of business is disputable as is business philosophy; for example, most Marxist use "means of production" as a rough synonym for "business." Socialist advocates government, public, or worker ownership of most sizable businesses.